Ally Bank It's good to be different

We’re an online bank, which means we don't have physical bank locations. By eliminating the costs associated with traditional brick-and-mortar banks, we can offer great rates and outstanding customer care.

With Ally Bank, you get everything you expect from a traditional bank and more:

Peace of mind. No hidden fees. No maintenance fees. No minimum balance required

Make sure checks are properly endorsed on the back with "For Deposit Only" and the signatures of all payees. Please don't send cash.

Was this helpful?

Yes

No

How do I make a withdrawal from my Online Savings Account?

You can withdraw money in 4 ways:

Online funds transfer

Outgoing wire transfer

Telephone transfer

Check request

You should know that there are a few guidelines to these transactions:

You can always call us and request a check made out to you. You can also make unlimited deposits. But, Federal law limits other electronic, telephone and check transactions to a total of 6 per statement cycle. These limited transactions can be to other accounts or to a third party. If you go over the limit we charge $10 per transaction.

Was this helpful?

Yes

No

How many withdrawals can I make from my Online Savings Account each month?

You can make six withdrawals and transfers per statement cycle from your Online Savings Account. The limit is set by federal law for electronic and telephone transactions from all U.S. savings and money market accounts. Please remember, you will be charged a $10 fee for each transaction that exceeds this limit.

Was this helpful?

Yes

No

What is the difference between an Online Savings Account and Money Market Account?

The main difference is in how you access your money. A money market account gives you more access because you can be issued a Visa® Debit Card and checks for these accounts. An online savings account does not support the use of checks and does not come with a debit card.

It's important to note that there are Federal limits on transactions from U.S. savings and money market accounts.

You can always call us and request a check made out to you. You can also make unlimited deposits and ATM withdrawals. But, Federal law limits other electronic, telephone and check transactions to a total of 6 per statement cycle. These limited transactions can be to other accounts or to a third party. If you go over the limit we charge $10 per transaction.